Each litecoin traded for a good or service is marked on the ledger with a transaction id and the origination and target wallet addresses. On all other operating systems, it is located in ~/.electrum-ltc.Ī blockchain is a long record of every single transaction ever made. On Windows, this folder is located in \Users\YourUserName\AppData\Roaming\Local\Electrum-LTC. Older versions of Electrum could import private keys from another client, but then you had to backup those keys separately, as they could not be restored by the Electrum seed.Ī default wallet file called default_wallet is created under the /wallets folder when you first run the application. This way you'll have all your litecoins secured with your seed. The best way to switch to Electrum is to send all the litecoins you have on your old wallet to one of the addresses on your Electrum wallet. What should I do with my old Litecoin addresses and wallet when switching to Electrum-LTC? You cannot send litecoins if you don't have enough funds in non-frozen addresses. The only thing you need to spend the coins received in your Electrum addresses is that seed. That is the destination address, and it will be from your existing electrum wallet. Enter the private keys in the appropriate field. Your private keys are derived from this seed every time you make a transaction. To sweep private keys, go to the Wallet menu -> Private Keys -> Sweep. More posts you may like r/AlgorandOfficial Join 2 yr. The best way to switch to Electrum is to send all the litecoins you have on your old wallet to one of the addresses on your Electrum wallet. importing a master private key will also do the same thing as restoring from seed. restoring from seed will create a deterministic wallet with unlimited private keys. Electrum uses a seed (twelve words length password). importing individual address private keys will create a non-deterministic wallet with just those private keys. When you freeze an address, the funds in that address will not be used for sending litecoins. 2 Answers Sorted by: 6 You ask a lot of things, so Ill explain how Electrum works for you and hope it is what you need. What does it mean to "freeze" an address? This is set to 5 by default, so the client generates new addresses until 5 unused addresses are found. Electrum-LTC uses a gap limit to stop looking for addresses. The gap limit is the maximum number of consecutive unused addresses in your deterministic sequence of addresses. You do not need to perform regular backups, because your wallet can be recovered from the seed that you can memorize or write on paper. Private keys, address, and everything directly related to Ethereum will be. The seed can be represented as a 12-word mnemonic code. However, this is not needed for normal operation, even now that the Segwit soft fork has activated.Įlectrum-LTC uses a 128-bit random seed to generate your private keys. How to Use Electrum-LTC This article will show you how to setup, backup, restore, and sweep your Electrum LTC Wallet on a Mac OS. Support for native Segwit transactions is in the works. If you are looking for a mobile wallet, check out LoafWallet, Jaxx or Coinomi. Is there a version of Electrum-LTC for Android?Īndroid is not currently supported.
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